Summary by Futu AI
On April 11, 2024, Peter J. Werth and Werth Family Investment Associates LLC (Werth Associates), reported significant transactions in the common stock of Cingulate Inc. According to the latest Schedule 13D/A filing with the SEC, Mr. Werth is deemed to beneficially own 1,178,108 shares of Cingulate Inc., which represents 19.48% of the company's issued and outstanding common stock. This ownership includes direct holdings, stock options, and warrants. Werth Associates, where Mr. Werth serves as Manager, is reported to beneficially own 1,176,340 shares, or 19.45% of the company's common stock. The reported ownership reflects a 1-for-20 reverse stock split effective November 30, 2023. The filing also details transactions including the conversion of promissory note interest into pre-funded warrants and the exercise of these warrants using investment capital. The filing amends and supplements previous reports, with no other purchases or sales of common stock or related securities by the reporting persons in the sixty days prior to the filing date.